U.S. gold futures hit a record high on Friday amid uncertainty over whether country-specific U.S. import tariffs would apply to the most commonly traded sizes of gold bars. Spot prices, meanwhile, eased but remained on track for a weekly gain.

Gold climbed to a fresh record high after a U.S. government agency clarified that import tariffs would apply to one-kilo gold bars, sparking turmoil in the global bullion market.

The price of U.S. gold futures spiked Friday, a day after Switzerland was hit with 39% American tariffs on its goods, including 1-kilogram gold bullion bars.